Ensign Peak Advisors Inc Reduces Stake in Chord Energy Co. (NASDAQ:CHRD)

Ensign Peak Advisors Inc decreased its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,604 shares of the company's stock after selling 8,414 shares during the period. Ensign Peak Advisors Inc's holdings in Chord Energy were worth $2,526,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. FORA Capital LLC purchased a new position in shares of Chord Energy during the fourth quarter valued at approximately $2,217,000. Clark Capital Management Group Inc. lifted its holdings in Chord Energy by 52.1% during the fourth quarter. Clark Capital Management Group Inc. now owns 5,786 shares of the company's stock worth $676,000 after acquiring an additional 1,981 shares during the period. EHP Funds Inc. bought a new stake in Chord Energy during the fourth quarter worth $210,000. CoreCommodity Management LLC raised its stake in shares of Chord Energy by 23.1% in the fourth quarter. CoreCommodity Management LLC now owns 14,481 shares of the company's stock valued at $1,693,000 after buying an additional 2,717 shares during the period. Finally, Baird Financial Group Inc. raised its stake in shares of Chord Energy by 4.3% in the fourth quarter. Baird Financial Group Inc. now owns 6,338 shares of the company's stock valued at $741,000 after buying an additional 259 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Wall Street Analyst Weigh In

CHRD has been the topic of several research reports. Royal Bank of Canada lowered their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Citigroup reduced their target price on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Mizuho lowered their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $153.92.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the sale, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Chord Energy Stock Down 1.7%

Shares of CHRD traded down $1.64 on Monday, reaching $95.03. The stock had a trading volume of 554,050 shares, compared to its average volume of 982,979. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 4.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a 50-day simple moving average of $98.06 and a 200-day simple moving average of $111.46. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the business posted $5.10 EPS. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts predict that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is presently 34.78%.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.